Asian stock markets rose sharply on Wednesday following strong gains in U.S. markets and renewed hopes that the Iran war may be nearing an end.

Major indexes across the region, including those in South Korea, Japan, Hong Kong, China, Australia, and Taiwan, posted significant gains.

The rally was fueled by comments from Donald Trump suggesting the U.S. could end its attacks on Iran within weeks.

Investor optimism also improved amid expectations of reduced disruption to global oil supplies through key routes like the Strait of Hormuz, the AP has reported.

However, uncertainty remains as the conflict continues to affect energy prices and global economic stability.